The motor finance industry was to see a potential new broker association being formed that would concentrate on providing benefits to consumers and small business operating predominantly in the retail sector. The NACFB (National Association of Commercial Finance Brokers) offered their support to any such initiative but when this came to my notice, as an ex director and president of the association, I saw a huge potential for the association and immediately got to work with the chief Read more »
I have issued another general warning about the lack of money available to lend and the subsequent repercussions. I have had many people writing to me explaining that they had strong credit but have been declined for loans on several occasions and are now being told that they have dropped into the sub-prime category, which means they will pay high rates of interest if they are able to secure finance at all. The reason for this is the fact that whilst there are still lenders willing to offer low rates Read more »
One of the constant questions I get asked is if the bank rate is at 0.5% why are personal loans running at around 8% – 10% and HP can be much more than that? Well unless you are a banker or you have a tracker mortgage the bank rate is pretty meaningless and this has always been the case when interest rates have been running at a pretty low level. The fact is that the interest a lender charges is his income. He might have a few fees that bolster up his admin costs but he still has his overhead costs to Read more »
Whilst all fatalities on UK roads dropped last year the figures are still too high. 2,222 people died on the roads of Britain last year, down 12% on 2008. Car occupant deaths fell 16%, pedestrians 13%, cyclists 10% and motorcyclists 4%. Whilst speed awareness courses are often not taken seriously by drivers who have been caught speeding and prefer to attend a course rather than suffer a conviction, the courses have been known to improve drivers’ attitudes towards speeding. This is particularly Read more »
Graham Hill’s in depth review of a new car gives the new Jaguar supercar the C-X75 the once over. Whilst I’ve never been a big fan of the big cat even I have to say that the car, being showcased at the Paris motor show, looks absolutely amazing. The car is driven by two gas turbines with a hybrid combination consisting of four electric motors. In fact the car has a battery only range of 68miles. The car can reach 205mph from 970bhp and accelerates from a standing start to 62mph in a staggering 3.4 Read more »
Warnings have been issued about the likely increase in the cost of fuel at the pumps. Of course we have the increase in VAT in January but the warning has come as a result of French firm Total putting their 500 service stations up for sale along with its supply contract to a further 300 independent outlets. At the same time Murco have also put their network of 200 retail outlets up for sale which means 10% of all the Read more »
Ford has announced their plans to create the ‘most significant’ engine ever. They are close to making a spectacular breakthrough that will drop the fuel consumption on some of their most popular cars to 100 miles per gallon. The goal will be reached within the next 5 years. The power unit is a new 3 cylinder engine has been created by their research team in Holland. The final decision to go into production lies with the development engineers based in Dunton in Essex. The engine will have a 1.0 litre Read more »
Graham’s gadget of the week is the CG-Lock system, which you fit to your seatbelt. The system causes you to be held into your seat more firmly which makes your belt safer and improves your posture. The system comes highly recommended and finance company Arval who has been testing out the system with their staff. The device is palm sized and takes up the slack in the seatbelt keeping the user in the safest position. It also keeps the seatbelt across the pelvis rather than the stomach. Arval Read more »
